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Tag: CBN
CBN introduces new ATM charges,, N450 for N20,000
The Central Bank of Nigeria, CBN, has announced new charges for the use of Automated Teller Machines, and ATMs. This was revealed in a circular signed by the apex bank’s…
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Diaspora remittances are expected to rise to ₦31.7871 trillion -CBN
The Central Bank of Nigeria (CBN) has projected that diaspora remittances are expected to rise to ₦31.7871 trillion when fourth-quarter 2024 figures are released. The substantial increase in diaspora remittances…
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CBN Clears $7bn Forex Backlog to Boost Investor Confidence
Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced that the President Bola Tinubu-led Federal Government has cleared the outstanding $7bn foreign exchange backlog to various firms following a…
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Nigeria’s current account surplus hits $6b
Nigeria recorded a $6 billion current account surplus in the first half of 2024 as impact of several economic reforms begin to pay off, the Central Bank of Nigeria (CBN)…
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CBN Misused ₦2.7tn Interest on Ways and Means
The Federal Government has accused the Central Bank of Nigeria of misappropriating ₦2.73tn in interest payments from Ways and Means advances, raising serious concerns over irregularities in managing government funds.…
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CBN To Launch Whistleblowing Platform In January 2025
The Central Bank of Nigeria has announced the launch of an externally hosted whistleblowing platform set to go live on January 1, 2025. This initiative aligns with the apex bank’s…
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CBN Penalizes Banks with N150m Fine for Illicit Naira Mint Transactions
The Central Bank of Nigeria (CBN) has imposed a ₦150 million penalty per branch on Deposit Money Banks (DMBs) found engaging in the illegal flow of freshly minted Naira notes…
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Bank Workers Blame CBN Naira Shortage
The Association of Senior Staff of Banks, Insurance, and Financial Institutions has attributed the worsening cash shortage across the country to the Central Bank of Nigeria’s inability to meet the…
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Lawmakers Order CBN to Ease Cash Crunch Hardship
The House of Representatives has asked the Central Bank of Nigeria (CBN) to urgently address the lingering scarcity of naira notes, According to the lawmakers, the issue has imposed significant…
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AFCON allowances, bonuses not delayed by CBN, says NFF
Nigerian Football Federation boss, Ibrahim Gusau has blamed budgetary constraints for the failure to pay up outstanding allowances and bonuses to the Super Eagles. At a meeting with the Super…
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